I have a copy. 1 of 2 trading reference books that I use a lot.
I am not sure if the MSBS mouth pieces reported this.
'
We are all eager to listen to you'...
So said Klaus Schwab, founder of the World Economic Forum, when introducing Argentina's newly elected President Javier Milei yesterday to a crowd of hundreds of the world's elite at the annual gathering in Davos, Switzerland.
He has "introduced a new spirit to Argentina," Schwab said.
It may even be true that the folks in attendance were eager to listen to the "outsider" libertarian economics professor who won office in hyperinflation-stressed Argentina in November. But Schwab couldn't have quite imagined what Milei would say over the next 25 minutes.
He began...
Today, I am here to tell you that the Western world is in danger, and it is in danger because those who are supposed to defend the values of the West are co-opted by a vision of the world that inexorably leads to socialism, and thereby to poverty.
Unfortunately, in recent decades, motivated by some well-meaning individuals willing to help others, and others motivated by the desire to belong to a privileged class, the main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.
We are here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world – rather, they are the root cause. Do believe me, no one [is] better placed than us Argentines to testify to these two points.
It was like the people of Troy let the Greek army in their secure confines without a giant wooden horse needed for deception. Over the next 24 minutes, Milei ruthlessly detailed the threat that "collectivism" – in his mind, including socialism – presents to global economic growth.
Keep in mind this is a guy who has called for the abolition of Argentina's central bank... privatizing the pension system... and dollarizing the economy as a "shock therapy" to cure his country's triple-digit inflation.
The meat of the argument...
It was stunning. The Davos crowd was gathered for a conference with a "Rebuilding Trust" theme. Instead, Milei outlined the case for "freedom" and described how he was seeing its antidote in the West – and why that was such a dangerous thing...
He talked about how free-market capitalism has brought the world more riches and less poverty in the past two centuries than the previous 1,800 years...
He talked about the mistakes he said government leaders, many sitting in the crowd, have been making recently that stagnate economic growth by limiting free competition. Milei said...
If the state punishes capitalists when they are successful, they will destroy their incentives... This will harm society as a whole.
Successful entrepreneurs are the real heroes, he said. More regulations, on the other hand, create a "downward spiral" of more regulations that ultimately stifle growth, make people poorer, and leave people's lives at the behest of a "bureaucrat sitting in a luxury office."
There are no "market failures," he said, but broken models used by economists. (Timely, since we encouraged the U.K. economists just yesterday to drink more alcohol to better forecast inflation.) This leads to more, costly interventions to get it "right." Milei said...
With tools like printing money, debt, subsidies, control of the interest rate, price controls, and regulations to correct the so-called market failures, they can control the lives and fates of millions of individuals.
Bought it years ago, excellent book!
Wow! Thank you for saying that.
Same!
Tokenize/Monetizing Everything like you have said Greg
https://www.reuters.com/sustainability/climate-energy/nyse-pulls-plan-environmentally-sustainable-asset-class-2024-01-17/
I have a copy. 1 of 2 trading reference books that I use a lot.
I am not sure if the MSBS mouth pieces reported this.
'
We are all eager to listen to you'...
So said Klaus Schwab, founder of the World Economic Forum, when introducing Argentina's newly elected President Javier Milei yesterday to a crowd of hundreds of the world's elite at the annual gathering in Davos, Switzerland.
He has "introduced a new spirit to Argentina," Schwab said.
It may even be true that the folks in attendance were eager to listen to the "outsider" libertarian economics professor who won office in hyperinflation-stressed Argentina in November. But Schwab couldn't have quite imagined what Milei would say over the next 25 minutes.
He began...
Today, I am here to tell you that the Western world is in danger, and it is in danger because those who are supposed to defend the values of the West are co-opted by a vision of the world that inexorably leads to socialism, and thereby to poverty.
Unfortunately, in recent decades, motivated by some well-meaning individuals willing to help others, and others motivated by the desire to belong to a privileged class, the main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.
We are here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world – rather, they are the root cause. Do believe me, no one [is] better placed than us Argentines to testify to these two points.
It was like the people of Troy let the Greek army in their secure confines without a giant wooden horse needed for deception. Over the next 24 minutes, Milei ruthlessly detailed the threat that "collectivism" – in his mind, including socialism – presents to global economic growth.
Keep in mind this is a guy who has called for the abolition of Argentina's central bank... privatizing the pension system... and dollarizing the economy as a "shock therapy" to cure his country's triple-digit inflation.
The meat of the argument...
It was stunning. The Davos crowd was gathered for a conference with a "Rebuilding Trust" theme. Instead, Milei outlined the case for "freedom" and described how he was seeing its antidote in the West – and why that was such a dangerous thing...
He talked about how free-market capitalism has brought the world more riches and less poverty in the past two centuries than the previous 1,800 years...
He talked about the mistakes he said government leaders, many sitting in the crowd, have been making recently that stagnate economic growth by limiting free competition. Milei said...
If the state punishes capitalists when they are successful, they will destroy their incentives... This will harm society as a whole.
Successful entrepreneurs are the real heroes, he said. More regulations, on the other hand, create a "downward spiral" of more regulations that ultimately stifle growth, make people poorer, and leave people's lives at the behest of a "bureaucrat sitting in a luxury office."
There are no "market failures," he said, but broken models used by economists. (Timely, since we encouraged the U.K. economists just yesterday to drink more alcohol to better forecast inflation.) This leads to more, costly interventions to get it "right." Milei said...
With tools like printing money, debt, subsidies, control of the interest rate, price controls, and regulations to correct the so-called market failures, they can control the lives and fates of millions of individuals.
Just bought it... looking forward to reading! Thanks Greg!
Saw this a bit ago, https://www.wsj.com/finance/investing/the-8-8-trillion-cash-pile-that-has-stock-market-bulls-salivating-0a1b4a8c?mod=djemalertNEWS
Bs or not, it caught my eye
I bought it when you 1st published it, I then passed it to my son and daughter.
I like your blackjack book!